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Second Circuit Revives American Express Fraud Suit

Law360 (August 10, 2006, 12:00 AM EDT) -- The Second Circuit Court of Appeals has reinstated a securities fraud suit—thrown out in 2004 by a lower court—against American Express Co. executives over investments in junk bonds that lost the company millions.

The court vacated and remanded the case back to the Southern District of New York on Monday on the grounds that the lower court erred in dismissing two claims that it ruled were time-barred.

“Having successfully challenged the time-bar ruling, the merits of those claims are again on the table,” the Second Circuit...
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